Macquarie Group Ltd. Acquires 23,700 Shares of Inovalon (INOV)

Macquarie Group Ltd. increased its holdings in shares of Inovalon (NASDAQ:INOV) by 877.8% in the 4th quarter, Holdings Channel reports. The firm owned 26,400 shares of the technology company’s stock after acquiring an additional 23,700 shares during the period. Macquarie Group Ltd.’s holdings in Inovalon were worth $396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in Inovalon during the fourth quarter worth $150,000. Creative Planning acquired a new stake in Inovalon in the fourth quarter valued at $152,000. Teacher Retirement System of Texas acquired a new stake in Inovalon in the fourth quarter valued at $294,000. Smith Asset Management Group LP acquired a new stake in Inovalon in the fourth quarter valued at $436,000. Finally, California Public Employees Retirement System acquired a new stake in Inovalon in the fourth quarter valued at $485,000. Institutional investors and hedge funds own 27.28% of the company’s stock.

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Shares of INOV stock opened at $10.40 on Friday. The firm has a market capitalization of $1,516.22, a price-to-earnings ratio of 45.22, a PEG ratio of 2.94 and a beta of 1.03. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.32. Inovalon has a one year low of $10.10 and a one year high of $17.80.

Inovalon (NASDAQ:INOV) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.83 million. Inovalon had a return on equity of 4.79% and a net margin of 7.51%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. equities research analysts predict that Inovalon will post 0.25 earnings per share for the current fiscal year.

A number of analysts have commented on INOV shares. Zacks Investment Research cut shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Morgan Stanley cut shares of Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target for the company. in a research note on Wednesday, March 14th. BidaskClub cut shares of Inovalon from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. ValuEngine cut shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Finally, Wells Fargo reiterated a “market perform” rating and issued a $14.00 price target (down previously from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $12.00.

In other news, insider Shauna L. Vernal sold 44,270 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $619,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 48.28% of the company’s stock.

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Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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